Why do I need a Bookkeeper?

When you have a 70 lb boxer living in your house, you have to constantly be aware of his location and the location of all his toys to prevent trips and falls. Boomer does not recognize that the other people living in the house might not notice a small ball in the middle of the walkway. He also purposely lays down in my way and then moves just as I am trying to step over him. I need to be aware of when he is in my way, because he isn't going to tell me.

Boomer strongly believes he must be aware of every squirrel with a 10-mile radius to make sure they are not gathering to storm the back yard. He very aggressively and loudly notifies me when a squirrel is within this radius.

There are also many things to be aware of when running a small business. There are so many details that you have to constantly pay attention.

For example, you decide to allow customers to pay your invoices within 30 days and allow a 5% discount if paid within 15 days. Now you have to track when you receive the cash to determine if the client is eligible for the discount and to calculate the discount. You also need to be aware of the clients who don't pay within 30 days.

To account for these transactions, several accounts are going to be needed.

• A revenue account to track the sale.

• An accounts receivable account to track the credit extended.

• A discount expense account in case the client pays within 15 days.

• A cash account (obviously) to track the cash paid.

That is four accounts for one transaction. You will also have bills to pay to your vendors, payroll, tracking your cash on hand, and many more. With everything else you have going on, these types of transactions can be handed over to an experienced bookkeeper, so you can keep focused on more important things.

While I can't help you with your pets (or small children who also leave toys everywhere), as a retired CPA, I can make your work life a little easier. I know which accounts need to be used for each transaction to properly track each item. I will also run reports to show you how you can improve your numbers or to show that you are on track. Let me use my 25 years of experience in the accounting field to help you be a success.